ASSA ABLOY: Quarterly Report Q3 2024

Record operating profit

STOCKHOLM, Oct. 23, 2024 /PRNewswire/ -- 

Third quarter

Net sales increased by 1% to SEK 37,418 M (36,881), with positive organic growth of 0% (1) and acquired net growth of 4% (11). Exchange- rates affected sales by, 3% (4).

Organic sales growth was good in Americas and Global Technologies, stable in EMEIA, while organic sales declined in Entrance Systems and Asia Pacific.

Seven acquisitions with combined annual sales of about SEK 4 billion were completed in the quarter.

Operating income[1] (EBIT) increased by 8% and amounted to SEK 6,255 M (5,777), with an operating margin of 16.7% (15.7).

Net income1 amounted to SEK 4,033 M (3,656).

Earnings per share1 amounted to SEK 3.63 (3.31).

Operating cash flow amounted to SEK 6,341 M (7,177).

Sales and income

Third quarter

January-September

2023

2024

Δ

2023

2024

Δ

Sales, SEK M

36,881

37,418

1 %

103,746

110,586

7 %

Of which:

Organic growth

144

91

0 %

3,259

–1,020

–1%

Acquisitions and divestments

3,733

1,579

4 %

7,079

9,111

9 %

Exchange-rate effects

1,184

–1,133

–3%